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Today, the Hennepin County Board of Commissioners voted to approve $14.8 million for affordable housing. Together, these awards will create or preserve 1,130 affordable housing opportunities. This action was approved in the Administration, Operations, and Budget Committee and by the Housing and Redevelopment Authority (HRA). The board will vote on final approval at the regular board meeting on May 20, 2025.
Despite facing challenges, including fluctuating market forces and rising construction and land costs, these affordable units will open doors to new neighbors, end resident homelessness, and reduce racial disparities in homeownership.
$13.3 million will create or preserve 1,093 rental units. In line with Hennepin County’s established housing strategy to prioritize investment in housing for people with the lowest incomes, 38% of these units will be affordable to households at or below 30% of the area median income (AMI).
188 highly tailored supportive housing units will serve households experiencing homelessness prioritized for housing through the Hennepin County coordinated entry system.
Funding was provided through the HRA's Affordable Housing Incentive Fund (AHIF) and the Supportive Housing Capital Fund, and the federal HOME Investment Partnerships Program (HOME). Ten projects are located in Minneapolis, and the remaining projects are in Saint Louis Park, Edina, Bloomington, Excelsior, Mound, and Richfield.
$1.5 million awarded to create new affordable homeownership opportunities
$1.5 million will create 37 new affordable homeownership opportunities through new construction, acquisition, and rehabilitation. Funding was provided from the HRA's Homeownership Assistance Fund and the federal HOME Investment Partnerships Program (HOME).
All 37 homeownership opportunities will maintain long-term affordability through land trust or land restriction models. The projects will provide geographic choice to future residents, with homes located across the county.
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